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IN THE MATTER OF: ELITE FINANCIAL SOLUTIONS, INC. |
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CONSENT ORDER |
WHEREAS, the Banking Commissioner (“Commissioner”) is charged with the administration of Sections 36a-671 to 36a-671e, inclusive, of the Connecticut General Statutes contained in Part II of Chapter 669 of the Connecticut General Statutes, “Debt Adjusters and Debt Negotiation”;
WHEREAS, Elite Financial is a Delaware corporation with offices at 1180 SW 36th Avenue, Suite 205, Pompano Beach, Florida, and 6278 North Federal Highway, Suite 109, Ft. Lauderdale, Florida;
WHEREAS, the Commissioner, through the Consumer Credit Division of the Department of Banking, conducted an investigation pursuant to Section 36a-17(a) of the 2012 Supplement to the General Statutes, as amended by Public Act 12-96, to determine if it had violated, was violating or was about to violate the provisions of the Connecticut General Statutes within the jurisdiction of the Commissioner;
WHEREAS, as a result of such investigation, on October 22, 2012, the Commissioner, acting pursuant to Sections 36a-52(b) and 36a-52(a) of the Connecticut General Statutes, Section 36a-50(a) of the Connecticut General Statutes, as amended by Public Act 12-96, and Section 36a-671a(b) of the 2012 Supplement to the General Statutes, issued a Temporary Order to Cease and Desist, Notice of Intent to Issue Order to Cease and Desist, Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing (collectively, “Notice”) against Elite Financial, which Notice is incorporated herein by reference;
WHEREAS, the Notice alleges that Elite Financial offered to engage in debt negotiation in this state without obtaining the required license, in violation of Section 36a-671(b) of the 2012 Supplement to the General Statutes;
WHEREAS, the Notice also alleges that Elite Financial engaged in debt negotiation in this state without obtaining the required license, in violation of Section 36a-671(b) of the 2012 Supplement to the General Statutes;
WHEREAS, on October 23, 2012, the Notice was mailed to Elite Financial by certified mail, return receipt requested (Certified Mail Nos. 70112000000247319889 and 70112000000247315775);
WHEREAS, on October 26, 2012, Elite Financial received the Notices sent by certified mail;
WHEREAS, on November 5, 2012, the Department received an Appearance and Request for Hearing from Elite Financial, which hearing is currently scheduled for January 16, 2013;
WHEREAS, Section 4-177(c) of the Connecticut General Statutes and Section 36a-1-55(a) of the Regulations of Connecticut State Agencies provide that a contested case may be resolved by consent order, unless precluded by law;
WHEREAS, the Commissioner and Elite Financial now desire to resolve the matters alleged in the Notice and set forth herein;
WHEREAS, Elite Financial voluntarily agrees to consent to the entry of the sanctions described below without admitting or denying any allegation contained in the Notice and set forth herein and solely for the purpose of obviating the need for further formal administrative proceedings concerning the allegations contained in the Notice and set forth herein;
WHEREAS, Elite Financial herein represents that since October 1, 2009, it has provided debt negotiation services on behalf of only one (1) Connecticut resident and has refunded all fees paid by such Connecticut resident;
WHEREAS, after receipt of the Notice, Elite Financial promptly removed Connecticut from the drop down menu of states listed on its website whereby consumers, upon completion of a form, could request additional information about Elite Financial’s debt negotiation services;
WHEREAS, Elite Financial specifically assures the Commissioner that the alleged violations contained in the Notice and set forth herein shall not occur in the future;
WHEREAS, Elite Financial agrees that the Notice may be used in construing the terms of this Consent Order and agrees to the language of this Consent Order;
AND WHEREAS, Elite Financial, through its execution of this Consent Order, voluntarily agrees to waive its procedural rights, including a right to a hearing as it pertains to the allegations contained in the Notice and set forth herein, and voluntarily waives its right to seek judicial review or otherwise challenge or contest the validity of this Consent Order.
CONSENT TO ENTRY OF SANCTIONS
WHEREAS, Elite Financial, through its execution of this Consent Order, consents to the Commissioner’s entry of a Consent Order imposing the following sanctions:
| 1. | No later than the date this Consent Order is executed by Elite Financial, Elite Financial shall remit to the Department of Banking by cashier’s check, certified check or money order made payable to “Treasurer, State of Connecticut”, the sum of One Thousand Dollars ($1,000) as a civil penalty; and |
| 2. | Elite Financial shall immediately cease and desist from engaging or offering to engage in unlicensed debt negotiation activity in Connecticut, in violation of Section 36a-671(b) of the 2012 Supplement to the General Statutes. |
CONSENT ORDER
NOW THEREFORE, the Commissioner enters the following:
| 1. | The Sanctions set forth above be and are hereby entered; |
| 2. | Upon issuance of this Consent Order by the Commissioner, this matter will be resolved and the Commissioner will not take any future enforcement action against Elite Financial based upon the allegations contained herein; provided that issuance of this Consent Order is without prejudice to the right of the Commissioner to take enforcement action against Elite Financial based upon a violation of this Consent Order or the matters underlying its entry, if the Commissioner determines that compliance with the terms herein is not being observed or if any representation made by Elite Financial and reflected herein is subsequently discovered to be untrue; and |
| 3. | Nothing in the issuance of this Consent Order shall adversely affect the ability of Elite Financial to apply for or obtain an original license or renewal license under Sections 36a-671 to 36a-671e, inclusive, of the Connecticut General Statutes contained in Part II of Chapter 669 of the Connecticut General Statutes; and |
| 4. | This Consent Order shall become final when issued. |
Issued at Hartford, Connecticut
this 14th day of February 2013. ________/s/_________
Howard F. Pitkin
Banking Commissioner
I, Jeff Wick, state on behalf of Elite Financial Solutions Inc. a/k/a E. F. Solutions Inc., that I have read the foregoing Consent Order; that I know and fully understand its contents; that I am authorized to execute this Consent Order on behalf of Elite Financial Solutions Inc. a/k/a E. F. Solutions Inc.; Elite Financial Solutions Inc. a/k/a E. F. Solutions Inc. agrees freely and without threat or coercion of any kind to comply with the sanctions entered and terms and conditions ordered herein; and that Elite Financial Solutions Inc. a/k/a E. F. Solutions Inc. voluntarily agrees to enter into this Consent Order, expressly waiving the procedural rights set forth herein as to the matters described herein.
By: ________/s/________
Name:
Title: C.O.O.
State of: Florida
County of: Broward
On this the 28 day of January 2013, before me, Jorge Palacios, the undersigned officer, personally appeared Jeffrey Wick who acknowledged himself/herself to be the C.O.O. of Elite Financial Solutions Inc. a/k/a E. F. Solutions Inc., a corporation, and that he/she, as such Officer, being authorized so to do, executed the foregoing instrument for the purposes therein contained, by signing the name of the corporation by himself/herself as C.O.O.
In witness whereof I hereunto set my hand.
_________/s/_________
Notary Public
Date Commission Expires: Nov. 17, 2013